Siyata Mobile Inc. (NASDAQ: SYTA), a Canadian-based global developer of Push-to-Talk over Cellular (PoC) handsets and accessories, is implementing key strategic initiatives and bringing in industry experts to disrupt the multi-billion-dollar two-way radio market with its innovative devices. Founded in 2012, Siyata Mobile aims to be a global leader in the PoC industry by leveraging next-generation communication technology to disrupt the legacy Land Mobile Radio (LMR) industry.
Push-to-Talk over Cellular (PoC) uses mobile networks to relay communications, combining advanced digital mobile radio features with 4G and 5G bandwidth and nationwide coverage. According to research published by Allied Market Research, the PoC market was valued at $3.43 billion in 2019 and is projected to reach $6.95 billion by 2027. PoC handsets offer several advantages over LMR, including broader network coverage, support for third-party data applications, and lower capital investment requirements.
For fiscal year 2023, Siyata Mobile reported revenue of $8.23 million and a gross profit of $2.66 million, representing increases of 27.0% and 91.2%, respectively, from the previous year. The company markets its devices through leading cellular carriers and their distributors, which allows it to maintain a lean operating cost structure. Siyata Mobile has already partnered with all major carriers in the U.S., enabling these carriers to activate SIM cards and generate income from customers transitioning from LMR to PoC systems.
The firm’s integration with the Zello push-to-talk application aims to elevate its product offerings. Zello is a live voice communication platform that converts smart devices into digital two-way radios, functioning over Wi-Fi and cellular networks globally. With over 175 million registered users and 99.99% uptime, Zello provides instant voice communication, message replay, emergency alerts, location tracking, dispatch capabilities, and Bluetooth device support.
Since July 2023, Siyata Mobile has made significant personnel additions to strengthen its value proposition. Doug Clark, a former AT&T executive, has joined as Assistant Vice President of Sales and Marketing. Clark previously served as Assistant Vice President for AT&T's FirstNet, a nationwide wireless communications network designed for first responders. Additionally, Bob Escalle has been appointed as Vice President of Public Safety, and T.J. Kennedy has joined the advisory board. Escalle brings over 30 years of experience from leading companies like Motorola Solutions and Samsung Electronics America. Kennedy, a recognized thought leader in mission-critical communications, also serves as a venture advisor for AI Fund and a board member at Echelon AI.
Siyata Mobile recently announced a $1.2 million order from a leading international EMS service provider for additional PoC rugged handsets and accessories. This order follows a previous announcement of $4.5 million in new orders, further demonstrating market demand for Siyata's solutions. CEO Marc Seelenfreund highlighted the significance of this order as a testament to the company's technology and the performance of its devices in critical communications.
Wall Street analysis suggests that Siyata Mobile may achieve profitability by 2026, underscoring the company's financial prudence and growth-oriented leadership. As Siyata Mobile continues to enhance its offerings for various sectors, including public safety, schools, utilities, and hospitals, its strategic initiatives and veteran leadership are expected to drive substantial industry disruption.
